site.btaEnergy Minister: Cooperation with EBRD Supports Government's Efforts to Guarantee Electricity System's Security, Sustainability

Caretaker Energy Minister Vladimir Malinov met with European Bank for Reconstruction and Development (EBRD) head of Bulgaria Manuela Naessl here on Thursday, his Ministry said in a press release. "Our cooperation with the EBRD supports our efforts to ensure the security and sustainability of the electricity system," he said at the meeting.  

In the context of the overall cooperation between the institutions, the two discussed the possibilities for continued support, including through the EBRD's financing, of priority projects in Bulgaria's energy sector, such as investments in energy storage infrastructure, transmission grid development as well as hydrogen technologies.

"The geopolitical situation and the volatility of energy prices pose a serious need for us to ensure a secure and predictable development of the energy sector," Minister Malinov underscored, adding that the partnership with the EBRD is key in this respect.

The dialogue between the Energy Ministry and the EBRD in the context of the strategic priorities of the two institutions in the region will continue, the press release reads.

On the sidelines of their meeting at the Ministry of Energy, Malinov and Naessl signed a supplementary agreement to provide technical assistance for the investment in the RESTORE national renewable electricity storage infrastructure, funded under the National Recovery and Resilience Plan.

In Malinov's words, the construction of a national electricity storage infrastructure is an additional guarantee for the security and sustainability of the electricity system, which contributes to the full utilization of renewable energy, in line with decarbonization goals.